Lolita is 63 years of age and a widow. To make a living, Lolita engages in a retailing business, which is a sari-sari (convenience) store. Lolita has six children. Four are married, one is abroad, and her youngest child assists her in managing their store.
Lolita doesn’t want to rely only upon her child for remittances from abroad. That’s why she keeps on running a sari-sari store. Lolita wanted to extend the products she sells in their village for additional profits. Thus, Lolita is asking for a loan of PHP 15,000 to buy drinks, biscuits, shampoo and soap, to resell. She will treat her customers well, so that she will raise the number of her customers.
About Alalay sa Kaunlaran, Inc.
This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.